"I have a mind like a steel... uh... thingy." Patrick Logan's weblog.

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Thursday, August 16, 2007

Good To Be The King(s)

Steve Dekorte's been tracking the credit fiasco with a number of good articles. And notes on the multi-billions of bailouts so far...

AFAICS, the net result is a transfer of wealth from the people who's dollars are devalued by the creation of money from such purchases to the lenders in the banking industry whose greed induced them to make poor decisions. The Fed was created and is run by bankers, so it shouldn't come as a surprise that it's principle purpose it to serve their interests at the expense of all others.

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About Me

Portland, Oregon, United States
I'm usually writing from my favorite location on the planet, the pacific northwest of the u.s. I write for myself only and unless otherwise specified my posts here should not be taken as representing an official position of my employer. Contact me at my gee mail account, username patrickdlogan.